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Business News Wales
01-05-2025
- Business
- Business News Wales
Investment Fund for Wales Backs Wrapper Producers with £100,000 Investment
Janet Speck, FW Capital; Stuart Whelan, Managing Director, Chevler; Bethan Bannister, British Business Bank. A Valleys-based cake wrapper producer which supplies to major companies is setting its sights on further growth following a £100,000 loan from the British Business Bank's Investment Fund for Wales. Chevler is the UK's leading manufacturer of paper cases used in the baking and sale of cakes and muffins. The 59-strong company has longstanding relationships with well-known brands including Costa Coffee, Gregg's, Lidl and Harvester, along with a number of other smaller wholesale baking and cookery companies. With the £100,000 loan from the Investment Fund for Wales, delivered by FW Capital, the business has bought new manufacturing equipment to help meet increased demand. The new 'Vac Wrap' machines will produce paper-only containers, allowing Chevler to mitigate increases in material costs as its clients face higher bills for energy and ingredients. These uniquely innovative machines are designed by Chevler engineers and built with the support of locally-based mechanical and electrical engineering companies. Chevler is proud to hold a BRC AA rating and full-FSC accreditation, ensuring its products meet high standards for food safety and environmental sustainability, and showing the business' commitment to providing safe, reliable and responsibly-sourced packaging to customers across the UK and Europe. The Investment Fund for Wales was launched by the government-backed British Business Bank to boost the supply of early-stage finance to small and medium-sized businesses across Wales. FW Capital was appointed one of three fund managers for the Investment Fund for Wales, with responsibility for larger loans between £100,000 and £2 million. Janet Speck, portfolio monitoring executive at FW Capital, said: 'Chevler provide a vital link in supply chains for a number of major and smaller businesses alike, and reviewing their operations to help cut costs on materials allows them to keep themselves competitive and maintain strong links with UK-wide companies. 'It's important that they're able to stabilise their costs and keep up with changes in the market, so we're really pleased that we've been able to support them in purchasing the new Vac Wrap machinery with the £100,000 loan.' Seth East, Sales & Marketing Director at Chevler, said: 'This loan has allowed us to take the next step in our growth plans as we look to cut costs for our customers and stay competitive, while also cutting the amount of materials used during our manufacturing process. 'As a business supplying to scores of customers across the UK and beyond, we want to do everything we can to future-proof our work, and the investment from the Investment Fund for Wales means we've been able to invest in cutting-edge machinery.' Since the Investment Fund for Wales fund launched in November 2023 and FW Capital appointed as one of the fund managers, it has supported more than 20 businesses, with investment ranging from £100,000 to £1.8 million. Businesses from every local authority area in Wales have expressed interest in the fund. Bethan Bannister, Senior Investment Manager at the British Business Bank, said: 'It is wonderful to see the Investment Fund for Wales supporting an established and successful company based in the South Wales Valleys as it invests in the machinery upgrades and innovation required to continue to meet the needs of its clients in such a highly competitive economic environment. It is vital that businesses like Chevler, who are a strong local employer with a national profile, are provided with the capital required to thrive and we're extremely pleased to be providing the backing that they need.'
Yahoo
26-03-2025
- Business
- Yahoo
Darlington trophy and rosette business set to grow after six-figure investment
A Darlington-based trophy and rosette manufacturer is set to expand after receiving a six-figure investment. Prudhoe Rosettes and Trophies, established in 1901, secured the substantial funding from NPIF II – FW Capital Debt Finance, managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II). This investment, secured by business advisors and accountants Armstrong Watson, will be used to support the growth of the business after the takeover by the new owner and managing director, Neil Coaker. An Echo Memories article (Image: Prudhoe Rosettes and Trophies) It will help the company with its rebranding and marketing efforts, as well as plans to expand its manufacturing capabilities, including improvements at its premises and the creation of new jobs. The business has been manufacturing trophies and rosettes since 1977 and expanded into commercial printing. It acquired Alden Arts, a specialist range of canine jewellery and giftware, in 1999. In 2024, the business was acquired by Mr Coaker after the previous owners, David and Bridget Emerson, retired. Mr Coaker said: "We're focused on investing in growth and taking the business to the next level. "It's very much business as usual for all our staff and customers but we're seeking to enhance the service and products we currently provide. "This includes an updated website and new branding provided by local business Maitland Web Designers. "I'm working with Martin Arkle, our general manager, who brings considerable experience having worked for Prudhoe Rosettes and Trophies since 1981 when he joined the business aged 16. "Martin has been pivotal during the takeover of Prudhoe Rosettes and Trophies, and his unwavering support for the growth of the business both past and present can be seen in the early shoots of growth in a small space of time since the takeover." General manager Martin Arkle said: "I am delighted to be working with Neil. "Exciting times lie ahead with much-needed and overdue improvements to the premises, along with new branding and signage. "We have recently acquired new updated machinery which will enable us to offer more in-house services including laser engraved signs, crystal, and giftware. "Also personalised books, diaries, invitations etc in gold leaf print. "Our new e-commerce website is also now live. "I am confident all of this will help take our expansion plans to the next level, made possible by growth fund investment supplied by FW Capital." The funding was made possible through the Northern Powerhouse Investment Fund II (NPIF II), which covers the entire North of England and provides loans ranging from £25,000 to £2 million, as well as equity investment up to £5 million to support small and medium-sized businesses. David Wilson, corporate finance partner at Armstrong Watson, said: "We were delighted to introduce Neil to the business back in 2024 and to see the business grow and achieve what it has done in such a short space of time. "The acquisition has proved a massive success which has been clearly demonstrated by the increase in sales and overall growth of the business. Read more: Steph McGovern opens £12m technical training centre hailing it a 'game-changer' Increase in insolvencies highlights financial struggles facing firms and consumers New development in Newton Aycliffe to create more than 1,000 jobs "The NPIF - FW Capital investment which was then made after the acquisition has been crucial. "We look forward to following Prudhoe Rosettes progress over the coming months and years." The Northern Powerhouse Investment Fund II aims to increase the availability of early-stage finance for smaller businesses in the North, providing funds to companies that might otherwise not receive investment and helping to break down barriers in access to finance. FW Capital will provide debt finance options ranging from £100,000 to £2 million to businesses based in the North West of England, with some flexibility to lend across the North.
